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on Monday, led higher by exporters such as Honda Motor Co on a weaker yen, while Kawasaki Heavy jumped on a report of a high-speed rail project in China. Banking shares including Japan＊s top lender Mitsubishi UFJ Financial Group rose on short-covering, market players said, while Japan Airlines gained after a report that a state-backed body will pearl jewelry oversee its turnaround. ＆The market is optimistic about Japanese earnings as the reporting season heads into full swing,＊ said Kenichi Hirano, operating officer at Tachibana Securities. ＆The Nikkei＊s important technicals 每its 75-day and 25-day moving averages每 stand around 10,250 and that is also forming a very strong support line.＊ The benchmark Nikkei added 50.79 points to 10,333.78, after starting the day slightly lower, tracking a fall on Wall Street. The broader Topix gained 0.5 percent to 906.76. The dollar was trading around 92 yen in early Asia trade. Many Japanese exporters have set their currency rate assumptions at 90-95 yen for the year to March. The Nikkei gained 0.2 percent last week, with investors reluctant to actively take positions ahead of Japanese corporate earnings and a raft of economic indicators in Japan and the United States this week. On Thursday, Japan will announce its industrial output data for September and the U.S. government is set to report its first estimate on third-quarter gross domestic product. Honda advanced 2.5 percent to 2,875 yen, while Sony Corp climbed 3 percent to 2,750 yen. Advantest Corp added 1.5 percent to 2,405 yen. Banking stocks recouped some ground, with Mitsubishi UFJ gaining 1.5 percent to 467 yen. Mizuho Financial Group rose 1.2 percent to 175 yen. JAL shares gained 1.8 percent to 116 yen, after opening lower. The Nikkei business daily said the Japanese government plans to put a state-backed turnaround body in biwa pearl charge of the overhaul of the struggling airline, underlining the government＊s deeper involvement in the process. (Reporting by Aiko Hayashi; Editing by Joseph Radford) ((aiko.hayashi@thomsonreuters.com; Reuters Messaging: aiko.hayashi.reuters.com@reuters.net; +81 3 6441 1802)) ((If you have a query or comment on this story send an email to news.feedback.asia@thomsonreuters.com)) Keywords: MARKETS JAPAN STOCKS Reuters Terminal users can see other related news and rates by double-clicking on: All Nikkei indices All shares listed on Nikkei-225 N225 index TOPIX index Nikkei Japan 1000 TOPIX sector data Nikkei 300 index TOPIX futures data Osaka N225 data Chicago N225 data Top 30 by volume Top 30 by value Total volume Total value 1st section sector RICs All TSE weighted avg Top 30 gainers by pct Top 30 losers by pct Top 30 net gainers Top 30 net losers Active Japanese stocks Japan economic indicators ASIA-PACIFIC STOCK MARKETS: Pan-Asia Japan S.Korea S.E. Asia Hong Kong Taiwan Australia/NZ India China OTHER MARKETS: Wall Street Gold Currency Eurostocks Oil JP bonds ADR Report LME metals US bonds Stocks News US Stocks News Europe DIARIES & DATA: IPO diary & data Asia earnings diary U.S. earnings diary European diary Japan diary Wall Street Week Ahead Eurostocks Week Ahead TOP NEWS: For top Asian company news: Top News Japan U.S. company news Europe company news Forex news Global Economy news All Equity news Tech, Media, Telecoms Banking news Politics/General news Asia Macro data A multimedia version of Reuters Top News is available at: http://topnews.session.rservices.com LIVE PRICES & DATA: World stocks Currencies Dow Jones/NASDAQ Debt FTSE 100 LME price overview Yen/dollar (Multimedia versions of Reuters Top News are now available for: * 3000 Xtra : visit http://topnews.session.rservices.com * BridgeStation: view story .134 * Reuters Plus: from your WebDSS screen For more information on Top News, visit http://topnews.reuters.com) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters. Neither the Subscriber nor Thomson Reuters warrants the completeness or accuracy of the Service or the suitability of the Service as a trading aid and akoya pearl neither accepts any liability for losses howsoever incurred. The content on this site, including news, quotes, data and other information, is provided by Thomson Reuters and its third party content providers for your personal information only, and neither Thomson Reuters nor its third party content providers shall be liable for any errors, inaccuracies or delays in content, or for any actions taken in reliance thereon.
Sunday in Delaware bankruptcy
Capmark Financial Group, one of the nation＊s largest commercial real estate lenders, has filed for bankruptcy protection amid mounting bad debt. Capmark has been hurt by rising losses on mortgage loans. In its Chapter 11 filing Sunday in Delaware bankruptcy court, the company listed total debt of $21 billion and assets of $20.1 billion. It seeks to reorganize under court protection, reducing its debt while continuing to pearl jewelry operate its businesses. Many U.S. banks have been hurt by rising losses on commercial real estate loans. With millions of jobs lost and office space remaining empty during the recession, developers have been forced to default on loans. Analysts predict that commercial real estate defaults will rise rapidly. ※We view this reorganization process as an unfortunate but necessary response to recent unprecedented conditions in financial and commercial real estate markets, which presented a significant challenge for Capmark and similarly situated finance companies,§ said Capmark President and CEO Jay Levine, in a statement. ※By constraining the availability of capital, these difficult market conditions had a negative effect on all our core businesses.§ Last month, Horsham, Pa.-based Capmark posted a $1.6 billion quarterly loss, as it set aside $345.8 million to cover loan losses during the quarter ended June 30. The company had been in talks with lenders and bondholders to restructure its debt so that it could stay in business. Capmark in September agreed to an option to sell its North American servicing and mortgage businesses to Berkadia III LLC - a joint venture of Warren Buffett＊s Berkshire Hathaway Inc. and Leucadia National Corp. Now that Capmark has been forced to file for bankruptcy protection, it will receive $415 million in cash and a $75 million note in the deal, minus any losses on a portfolio of mortgages. Had the transaction been completed outside of bankruptcy court, Capmark would have received $375 million in cash at the biwa pearl closing. Berkadia would have held $40 million to cover indemnity claims and pay the $75 million note. Capmark was created in 2006 after a private equity group led by KKR & Co., Goldman Sachs Capital Partners and Five Mile Capital Partners bought the commercial real estate business of lender GMAC LLC. According to the bankruptcy filing, the group owns 75.4 percent of the company. GMAC owns 21.3 percent, with most of the remaining shares owned by employees and directors. Messages left for KKR, Goldman Sachs and Five Mile were not immediately returned on Sunday. In a statement, Capmark said its Capmark Bank subsidiary is not part of the Chapter 11 filing. The bank, which recently received $600 million in new equity from Capmark Financial, will continue to serve its customers. As of Friday, Capmark and its units involved in the filing had more than $500 million of cash and cash equivalents available to fund operations. Capmark said it believes it has enough liquidity at this time to allow it to pay vendors for goods and services and to pay salaries and continue benefits to akoya pearl its employees, and has filed motions with the court to allow it to do so. ※The Chapter 11 process will give Capmark the opportunity to restructure our balance sheet while continuing to focus on maximizing value for our principal stakeholders,§ said Mohsin Meghji, the company＊s chief restructuring officer, in a statement.
Why does someone like Penn think
Oscar-winning actor, political activist, and part-time Big Name interviewer Sean Penn is currently in Cuba hoping to land what may turn out to be the biggest ※get§ of all his journalistic dabblings. He＊s angling to interview ailing revolutionary leader Fidel Castro. And, if recent history is any guide, he＊s got as good a shot as any imperialist Yankee to sit down for pearl jewelry an on-the-record with the bearded ex-president. Last year, he sat down for a seven-hour gabfest with Fidel＊s younger brother and current Cuban President Ra迆l Castro. (See below). And he hung out with Fidel back in 2005. Celebrity news source TMZ.com reports that Penn is there to do a piece for Vanity Fair magazine on how the Obama administration has affected Cuba. Cuba＊s government-controlled TV showed Mr. Penn walking in the town of Nueva Gerona on the Isle of Youth, accompanied by Cuban painter Alexis Leyva. (Somehow, I doubt Penn will get stuck on the island begging ferry operators to bend arcane Communist rules to let us leave the way a Monitor photographer and I had to do while reporting a three-part series on how change is coming to Cuba.) Penn＊s latest foray into journalism prompts us take stock of the past few years of his reportage. Herewith, the Top 5 Sean Penn reporting trips. 5) Iran. In 2005, Penn traveled to Iran to cover that country＊s elections for the San Francisco Chronicle. The result: A five-day series. Here＊s a sample: Back at the hotel, I went for coffee and scrambled eggs at the downstairs buffet. A canned, Muzak version of ※I Will Always Love You§ plays. The scene downstairs reminded me of similar scenes in Iraq, at Baghdad＊s Al Rashid and Palestine hotels. International journalists with that ※What the [bleep] are you doing here, Mr. Penn?§ look on their faces. 4) Iraq. In 2004, Penn reported for the San Francisco Chronicle that the occupation by US forces there ※could ignite a powder keg.§ This came a little more than one year after he used an ad in the biwa pearl Washington Post to ask former President George W. Bush not to go to war in Iraq. ※I beg you, help save America before yours is a legacy of shame and horror,§ Penn wrote in an open letter to Bush. 3) Cuba. Weeks before President Obama was elected last year, Penn had dinner and drinks with Cuban President Ra迆l Castro during a seven-hour conversation in Havana. Mr. Castro told Penn he＊d be open to meeting with Mr. Obama, if he won the election. Penn wrote the visit up for The Nation, a liberal news magazine. Penn flew to Havana from Caracas, Venezuela, on a plane loaned to him via the Venezuelan Ministry of Energy and Petroleum. Just don＊t razz him about it. ※If someone wants to refer to that as a payoff, be my guest,§ he wrote. ※But when you read the next report from a journalist flying on Air Force One, or hopping on board a US military transport plane, be so kind as to akoya pearl dismiss that article as well.§ Touch谷, Mr. Penn. Touch谷. 2) Venezuela. Before flying on to Cuba (see #3) Penn spent some time hangin＊ with President Hugo Ch芍vez, prompting this response by George Packer of The New Yorker: Why does someone like Penn think he can do this job, which isn＊t his job? Perhaps because he can write down and relay the words of famous people to whom his own fame gives him access, and because certain thoughts pass through his mind while he＊s writing them down. Penn＊s moonlighting shows a kind of contempt for journalism, which turns out to be rather difficult to do well. It also shows that he＊s missed one of the main points of Obama＊s election, which has Penn shedding tears at the end of his dispatch. Obama is the splendid fruit of a meritocracy. In a meritocracy, actors who act well get good roles. They don＊t get to be journalists, too〞a job that, in a meritocracy, should go to those who do journalism well. Nor should any journalist, however accomplished, expect to land a leading part in Penn＊s next movie. 1) Fidel Castro doesn＊t do many interviews these days. If Castro grants Penn an interview, it could be one of the last the leftist icon grants to a Western ※journalist§ 每 or movie star. And that would make it No. 1.
The test took place last week
The Large Hadron Collider, a particle collider under the Swiss-French border, hasn＊t recreated the big bang yet, but it has just experienced the little whoosh. Scientists at the LHC＊s home, the European Organization for Nuclear Research (CERN), announced today they＊ve sent a low-energy beam of protons nearly all the way around the race track for subatomic particles. In one direction only. But it shows that the race track, roughly 17 miles in circumference, is ready for the next milestone 〞 a fully circulating beam of protons, expected next month. The test took place last week, according to pearl jewelry a release from CERN. The LHC has been offline for a year following an electrical failure between two magnet segments. The failure led to a catastrophic leak of liquid helium. The liquid helium is critical. It cools the collider＊s superconducting magnets to the point where they lose all resistance to electricity. This in turn allows the magnets to generate far more powerful magnetic fields than ordinary magnets of the same size. The magnets are used to steer beams of particles in opposite directions around the collider until they are brought together in a collision. Magnets also keep the biwa pearl beams tightly focused to enhance the likelihood that a sufficient number of collisions will take place. Those collisions are expected to yield evidence for a particle called the Higgs boson 〞 which the maker-and-white-board theorists say imparts mass to other particles. And the physics teams say they hope to finding evidence for other, more bizarre particles that could help explain weird things folks have detected looking at the large-scale universe. Things like dark energy and dark matter, for instance. Other areas physicists hope to explore with the LHC: Extra dimensions to the universe that some theories project beyond the four dimensions humans can directly experience 〞 time, and the three dimensions physical objects occupy; and theories that seek to show how the four basic forces of nature 〞 electromagnetism, the strong force (binding particles in an atom＊s nucleus), the weak force (governing radioactive decay), and gravity 〞 are the chilled out manifestations of one over-arching force that akoya pearl prevailed at the dawn of the universe. Scientists have already shown that the first three of those forces can in effect be unified. Gravity remains the lone holdout.
Searches for Vevo soared on Monday
It＊s the hottest commodity on the Web, and Vevo doesn＊t even have an official release date yet. Searches for Vevo soared on Monday, as bloggers and tech fiends tripped over one another to find news of the music video service, which is expected to be unveiled by the end of the pearl jewelry year. So what do we know thus far about Vevo? Well, we know that Vevo was founded by Universal Music Group, and that it will run on technology provided by YouTube. We know that Google owns YouTube, and that Vevo 每 by extension 每 has some Google ballast behind it. And we know that Vevo has had no trouble attracting interest from other major labels. In June, Sony Music Entertainment joined the project, bolstering the amount of music video content that Vevo will make available; Warner and EMI are said to be interested. Meanwhile, the Abu Dhabi Media Company has reportedly purchased stakes in the start-up from Sony and Universal. The exact value of the transaction is unknown, although Peter Kafka at Media Memo says the figure hovers near $300 million. Content, cash, battle-tested video technology, a record industry plagued by slumping sales 每 you can see the appeal of the biwa pearl Vevo project. As Greg Sandoval at CNET notes, the Vevo play is an especially canny one. Music videos are by far the most watched genre on YouTube, and the Universal YouTube channel is the most frequently-clicked on all the site. Presumably, Vevo will seek to capitalize on that traffic, and build a platform for a small army of mainstream recording artists. For the time being, of course, Vevo isn＊t dishing out any details. The service has its own Twitter feed, but news on the launch is hard to come by. Still, that doesn＊t mean the music video service isn＊t rolling into gear. In a recent interview with Yahoo, Vevo President Rio Caraeff said that there were plenty of Vevo jobs available: We＊re looking to hire roughly 35 at the moment, with more jobs added once the launch happens. We＊re looking for people across just about every level and discipline. From ad sales, engineering and accounting to music programming, there are a number of akoya pearl positions that we＊re looking to fill in next six months or so.
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